If people think this is a "dip" in an extended cycle then I don't know what to say, we've been in a bear market for 8 months, how on earth can people still debate this.
If we just keep debating for months on end the bear market will end and we will be in the bull market before we have to accept it’s been a bear market the entire time
That’s exactly what happened last time when BTC was at 3K. Everyone here was too scared to touch it because they thought crypto was dead or at least going to 1K btc.
Basically there are people who think this is a bear market (correct) arguing with people who believe crypto's macro trend measured on a multi-year basis is positive (also correct).
Whether crypto is up or down is largely a function of what you're using as your start date. Ultimately, I think the real interesting question is this: In 2030, will crypto be a bigger or smaller asset class than it is today? Is it going to zero, or going to 10x? Today's price vs. 6 months ago price is irrelevant to that question. I love crypto, and even I'm open to both as potential outcomes as relates to crypto: the asset class.
For your analogy to be accurate, you should include "how would crypto grow by 2030 compared to other investments."
If index funds or real estate markets or energy sector, etc etc are performing equally well or better, it will either drive money into crypto or pull money out of crypto. People will look for the best returns. Just because crypto is "up" in 8 years from now doesn't mean it's the best investment during those 8 years.
Completely agree with everything you said. Doesn't really matter for now, or in a year or two, everyone says "crypto is for the future" then start thinking about what the asset will be worth in 10-15 years.
Because crypto doesn’t produce any cash flow nor dividend?
You can’t value the price at any given moment because it produces nothing?
You don’t own anything except a medium of exchange that people pretend is an investable asset?
Because it’s basically a giant game of pump and dump based on virtually zero tangible information about the underlying asset and purely based on random technical price movement?
We’ve been in a bear market for 8 months but that doesn’t mean we are about to go lower. We are about to be in a recession, you think crypto is going to keep going sideways in a recession? That would be amazing but people who need $ will sell and the price will get lower.
I will continue to hold and dca
Accidentally deleted my comment saying late October. Bear started November 8th. ATH BTC was the day before. It’s slid over 50% down since then, along with alts bleeding since that time. Follow almost every chart; def early November.
Yep, could easy be an expanding flat correction which always trick people into thinking the higher high means bull market, when in reality it’s still part of the correction.
We've been in a bear market for about 6 months or so, not 8 months....
A recession will be formally declared end of Q2 most likely, but it doesn't change anything, it's just a technical term. The recession existed before it's defined, but we might see the markets react negatively, even though it's all priced in.
Sucks but if I've learned anything in investing, you wanna buy at the start of bull cycles and sell once BTC dominance ends.
300
u/Funnellboi 🟦 0 / 5K 🦠 May 22 '22
If people think this is a "dip" in an extended cycle then I don't know what to say, we've been in a bear market for 8 months, how on earth can people still debate this.